The Chinese CHNComp index remains under pressure on Monday despite the fact that recent trade data from the world's second biggest economy released over the weekend surprised to the upside, raising hopes for an economic rebound. Nevertheless, Chinese equities may remain under pressure for as long as the situation around Taiwan remains tense and uncertain. Also investors remained cautious following a surprisingly strong NFP report that bolstered the Federal Reserve’s firm hawkish stance, ahead of the release of US inflation data this week. Recent upward correction was halted around 7190 pts and the index resumed slide and broke below the upward trendline. Index has later reached a short-term support in the 6,650 pts area. Should break lower occur, downward move towards the lower limit of the wedge formation (currently in the 6,000 pts area) may come next.
Source: xStation5
Daily Summary: Massive Gains in U.S. Indices Completely Wiped Out
US Open: A Powerful Start to the New Year for Nasdaq!
Euphoria hits the Hong Kong stock market 📈 CHN.cash surges 3%
Wall Street kicks off 2026 in the green 🗽US100 jumps 1%